Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Ministerial bureaucrats being purged over their alleged affiliations with Hizmet

Radikal said the only criteria in these purges is the “parallel state,” a term the government uses to define those bureaucrats known to favor the Hizmet movement, which is a grassroots movement based on voluntary participation to spread interfaith dialogue and tolerance with a particular emphasis on education.

Courts order corrections to gov’t media stories on Hizmet

Several courts have ruled against untruthful stories published or broadcast by media institutions close to the government about the Hizmet movement, which Prime Minister Recep Tayyip Erdoğan has accused of trying to undermine his government, but most newspapers and stations have not published the corrections as they should according to the rulings.

GYV says Gülen did not send letter to Erdoğan

“In those days [of the corruption debate], it was conveyed to us that President Abdullah Gül, having held meetings with various groups in the name of peace for the nation and to prevent debates from escalating further, wished to send an envoy to Gülen to transmit his thoughts as well as to learn Gülen’s considerations,” Şimşek explained.

Kyrgyz president: Those calling Turkish teachers terrorists should see a doctor

Kyrgyz President Almazbek Atambayev has said those who view as terrorists teachers working at the Gülen-linked SAPAT educational institutions in the country need treatment and should see a doctor.

Fethullah Gülen’s book ‘Love and Tolerance’ translated into Greek

The book “Love in Human Essence” by Turkish Islamic scholar Fethullah Gülen, known as the pioneer of the Hizmet movement, has been translated into Greek with the title “Agapi ke Anektikotita,” Greek for “love and tolerance.” The book, which was published by Sideris Publishing House a month ago, marks the first book by Gülen published in Greece.

Academic says Gülen movement followers should be sent to rehabilitation camps

A professor of communications, Muttalip Kutluk Özgüven, has said followers of the Gülen movement should be sent to rehabilitation camps and subjected to psychological treatment. “Their bodies do not belong to them. They have to serve Turkey’s interests,” he said.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Gülen condemns Pakistan attack, asks Muslims to protect minorities

Turkish school to open many new branches in Egypt

Georgia: MEP Rebecca Harms on Asylum for Cabuk

Fethullah Gülen and the Hizmet Movement by Ori Soltes, Georgetown University

Witch hunt spreads to courthouse

Police, inspectors raid Gülen-inspired schools in Manisa for 3rd time

Why is the Gulen movement’s statement on press freedom significant?

Copyright 2026 Hizmet News